Ending speculation regarding the post of Chief Operating Officer for the Reserve Bank, the Finance Ministry today clarified that it has still not received any proposal in this regard. Speaking to reporters in Mumbai today, Financial Services Secretary G S Sandhu said, the government will definitely look at the proposal whenever it comes. He added that the appointment of a COO can be done only after amending the RBI Act, which does not provide for any such post as of now.Last week, RBI had issued a statement, proposing to appoint a COO in the rank of a Deputy Governor. RBI had said that its Board has approved a proposal for Human Resource restructuring by creating an additional post of Chief Operating Officer and would soon approach the government for required legislative changes. As per the present norm, the RBI can have four Deputy Governors. If the fifth Deputy Governor has to be appointed, then the RBI Act has to be amended.Meanwhile, Mr. Sandhu today also said that the government is working on a slew of other reform initiatives for state-run lenders, including governance issues, the separation of the post of chairman and managing director, longer tenure for top management and quality of nominee directors and independent directors.